Zhao Changpeng, CEO of Binance, announced on Sunday that the Binance elite team had burned more than 16 million BNB (ERC-20) tokens. The encryption exchange Binance has converted the ERC20 version after the launch of the BNB blockchain into the original BEP2 version. The price of BNB rose by nearly 2%, more than $315 in 24 hours.

Binance converted 16 million BNB (ERC-20) to BNB (BEP2)

Binance CEO "CZ" indicated in his tweet on January 29 that the Binance elite team would also migrate/burn many BNB tokens in a few hours. At the same time, critics are required to prevent the dissemination of FUD after paying attention to such transactions in the chain.

Scald is related to converting the ERC20 version of BNB to the device (BEP2) version. Since the release of the original BNB blockchain, Binance has changed the BNB (ERC20) tokens held by some holders. Recently, Binance said that it would deposit about 16 million BNB (ERC20) tokens into Binance wallet.

At 07:59 on the morning of January 29, the data information on the Etherscan chain confirmed that the "Binance 8" wallet contained a burning transaction. In addition, the BNB Chain browser displays 16186608 BNB tokens, and the transaction fee is only 0.000075 BNB.

The encrypted tweet reflected CZ's article and praised the clarity of the encrypted exchange Binance. The combustion of this ERC20 BNB token is not included in the combustion of the first quarter or affects the overall circulation of BNB commodities.

On January 17, Binance burned 2064494.32 BNB tokens during the burning of BNB tokens in the 22nd quarter. Binance uses fully automatic combustion to reduce the supply of automatic total circulation system to 100000000 BNB.

The price of BNB token soared after burning

After the Binance elite team burned 16186608 BNB tokens, the BNB price set a new record of $315. The BNB price has increased by nearly 2% in the past 24 hours, and the current transaction price is 312 US dollars. At the end of 24 hours and higher, it is 304 dollars and 315 dollars respectively.

In addition, the trading volume has decreased significantly in the past 24 hours, indicating that a did not immediately respond to the BNB combustion. Before the US Federal Reserve Board's interest rate increase was confirmed on February 1, the crypto sales market was once again sideways.

Load at the same time: Our government department has released the software for tracking all encrypted transactions